Updated - February 2, 2011 Calais Resources Calais Resources High Grade Gold and Silver Mining High Grade Gold and Silver Mining in the in the 1 in the in the United States United States CAAUF.PK Website: www.calaisresources.com • Near Term Gold & Silver Production Mining - Colorado • Gold & Silver Exploration Programs - Colorado & Nevada
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Updated - February 2, 2011
Calais ResourcesCalais ResourcesHigh Grade Gold and Silver MiningHigh Grade Gold and Silver Mining
in thein the
1
in thein theUnited States United States
CAAUF.PKWebsite: www.calaisresources.com
• Near Term Gold & Silver Production Mining - Colorado
Manhattan / White Caps MineManhattan / White Caps Mine
Company Summary:Company Summary:
High Grade Gold & Silver Deposits
� 0.30 to 0.50 oz Gold / ton ( 10.3 to 17.1 gm / tonne )
� 5.0 to 12.0 oz Silver / ton ( 171 to 411 gm / tonne )
� All Mine Projects within U.S.� Reduces political & operational risks
Experienced Management Team
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� Experienced Management Team� Seasoned operational, engineering, and executive leadership
� Exploration AND Production � Initial high grade gold and silver resources - majority of exploration lies
ahead� Permitted – Revenue stream from initial production projected to
commence in 2011
Investor Opportunity: Investor Opportunity:
� Near-term Capital Appreciation & Recovery� Long-term Exponential Investment Growth
Company Summary:Company Summary:
High Grade Gold & Silver Deposits
� 0.30 to 0.50 oz Gold / ton ( 10.3 to 17.1 gm / tonne )
� 5.0 to 12.0 oz Silver / ton ( 171 to 411 gm / tonne )
� All Mine Projects within U.S.� Reduces political & operational risks
Experienced Management Team
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� Experienced Management Team� Seasoned operational, engineering, and executive leadership
� Exploration AND Production � Initial high grade gold and silver resources - majority of exploration lies
ahead� Permitted – Revenue stream from initial production projected to
commence in 2011
Investor Opportunity: Investor Opportunity:
� Near-term Capital Appreciation & Recovery� Long-term Exponential Investment Growth
� R. David Russell – Chairman / CEO / Director � One of the major shareholders of Calais Resources.� Previous President/CEO of Apollo Gold Corp., as well as a director and founder. � Thirty-plus years experience executive management at Asarco, LAC Minerals, Barrick Gold, Getchell
Gold Corp.� Holds Directorship positions at General Moly, Pure Nickel, & Fire River Gold� BS degree – Mining Engineering, Montana Tech
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Experience and Industry Leadership
Calais Resources Management TeamCalais Resources Management Team
� David K. Young – President / COO / Director� Has over 28 years of underground mining experience in operations, engineering, mine and corporate
management. � ASARCO – Black Cloud Mine (CO), Troy (MT), Galena & Coeur (ID)� Apollo Gold Corp. – Montana Tunnels (MT), Florida Canyon (FL); Black Fox (Ontario, Can.)� Registered Professional Engineer, State of Idaho; 43-101 qualified person for Calais� BS degree -- Mining Engineering, Colorado School of Mines
� Thomas Hendricks - Vice President Exploration / Director:� Has over 38 years of mining experience at Cross/Caribou, and was President of Hendricks Mining prior
to merger w/ Calais in 1999. Past President of Calais Resources� Experienced small mine operator and geologist � Numerous awards for environmental stewardship & community service.� Served(s) on several state and local boards for reclamation of historic mining properties. 5
� Accounting Group - SJM Financial Solutions
� Auditor – Eide Bailey
� Legal Group� Jon Sawyer - US Corporate Council
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Additional Management Team & Technical / Legal Consultants
Calais Resources Management TeamCalais Resources Management Team
� Jon Sawyer - US Corporate Council� Michael Hobart - Canadian Council� Fay Matsukage - SEC Corporate� John Henderson - Land / Mining Attorney
� Permitting / Environmental Group� Bruce Humphries� Walsh Environmental
� Identified Over 100 near vertical veins – true widths between 3ft (1m) to over 20ft (6.1m)
� Based on 175,000ft (53,500m) of core drilling and extensive underground sampling
� Land Position - 500 Acres Patented and 1800 Acres Unpatented
�� Cross Mine Cross Mine –– CDRMS CDRMS –– M 1977410M 1977410�� Existing permit allows 70,000 tons per year mining with processing offsiteExisting permit allows 70,000 tons per year mining with processing offsite
� Boulder County Permit Expansion (Approved 2008 – SU-08-006) Allows processing on site
� CDRMS – Permit revision for on site milling – April 2011
� Increases disturbance area to 9.5 acres and Milling on Site
� Increase cash reclamation bond to $100,000.
�� Water Quality Discharge Permit COWater Quality Discharge Permit CO--0032275100322751� Existing permit to discharge excess underground mine water after treatment with lime
� Existing permit to discharge excess underground mine water after treatment with lime
�� Storm Water Discharge Permit Storm Water Discharge Permit -- COR 040242 COR 040242
�� Air Quality Permit Air Quality Permit -- APEN APEN -- 09 BO 09 BO –– 0439 F 0439 F
�� Explosive License Number Explosive License Number -- 55--COCO--013013--3333--1H1H--00625 00625
�� MSHA MSHA -- ID Number ID Number –– 05027300502730
�� Colorado 112 Mine Expansion Permit Application (1,000 tpd)Colorado 112 Mine Expansion Permit Application (1,000 tpd)�� Apply for in Fall 2011 Apply for in Fall 2011 –– Permit expected in 2012Permit expected in 2012
Cross Mine – New On Site Mill
Surface FacilitySurface Facility
� Currently Permitted by Boulder County
� Requires Colorado Permit Updates
� Requires Tailing Impoundment - 2017
Continued Paste Backfill
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� Continued Paste Backfill
� Initial Processing Rate – 200 tpd
� Upgrade to 1000 tpd in 2012
� Potential Underground Mill to Reduce Surface
Disturbance
�� Nevada AssetsNevada Assets� Manhattan, Nevada
� Started in 1862 – Historic Gold Production
� White Caps Mine District - 800,000 oz of Gold
� Preliminary Review
� Historic High grade gold values in limestone units that were mined underground
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Asset SummaryAsset Summary
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� Historic High grade gold values in limestone units that were mined underground
� Historic mining to a depth of 1300ft (396m)
� Potential for Open Pit and Underground Operations
� Historic RC Drilling by Echo Bay – 70 RC holes
� Historic Underground Production Sampling Programs
� Land Position – 3,800 Acres Patented and Unpatented
� 5.93 square miles
� Plans
� Complete Technical Reports / Property Work
� Geological Studies
� Development Drilling – RC and Core Holes
Caribou Mine
Caribou / Cross – Location Fig. 1-1
Colorado PropertiesColorado Properties
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Cross Mine Area
Figure 1-1
Caribou Mine
Caribou / Cross – Location Fig. 2-2
Colorado PropertiesColorado Properties
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Figure 1-2
Caribou / Cross – Location Map
Colorado PropertiesColorado Properties
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Cross MineCross MineCaribou MineCaribou Mine
Idaho Tunnel
Elevation – 9800ft (2,987m)
Caribou / Cross Long Section – Looking N.E.
Colorado PropertiesColorado Properties
Showing Drill Hole Trace
Elevation – 8800ft (2,682m)
Distance Between Mines – 4,000ft (1,219m)
Idaho Tunnel Used for Underground Core Drilling Platform
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Cross SectionLocation
Idaho Tunnel
Caribou MineCaribou MineCross MineCross Mine
Caribou / Cross With Major Vein System
Colorado PropertiesColorado Properties
AnacondaNo Name Vein
East & West Nelson Veins
Apache, Potosi, Juliet, Cross Veins
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Shop
Apache SystemMain (drift): 3.0 ft @ 0.50 opt Au - 8.0 opt AgIntermediate (drill hole): 3.0 ft @ 0.50 opt Au - 7.5 opt Ag North Apache (drill hole): 3.5 ft @ 3.8 opt Au - 80 opt Ag
N
South Apache: 5.0 ft @ 0.50 opt Au 4.0 opt AgIndependent (Apache): 0.38 opt Au - 5.1 opt Ag
4th Level – 5.0 ft @ 0.50 opt Au 6.0 opt Ag
Juliet StockworkAverage mine area: 0.15 opt Au - 5.0 opt AgIndependent Grab: 0.143 opt Au - 7.13 opt Ag
Independent Grab: 3.24 opt Au - 34.3 opt Ag
New Portal
Calais ResourcesCross Mine – Adit Level
RomeoAdit Level (drift): 12.0 ft @ 0.35 opt Au 7.0 opt Ag4th Level (drift): 5.0 ft @ 0.45 opt Au 15.0 opt Ag
Independent Grab: 0.88 opt Au - 5.58 opt Ag
Independent Grab: 0.005 opt Au - 0.36 opt Ag
Cross-Caribou Mine Site – Nederland, Co.
1. Restart Cross Mine – 200 tpd2. New Decline3. New On Site Mill4. Ramp up to 1000 tpd
FORWARD-LOOKING STATEMENTSThis presentation includes certain “Forward-Looking Statements” within the meaning of section 21E of the United States Securities Exchange Act of 1934, as amended. All statements regarding potential mineralization, resources and reserves, exploration results and future plans and objectives of Calais Resources, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Calais Resources expectations are disclosed under the heading “Risk Factors” and elsewhere in Calais Resources documents filed from time to time with the regulatory authorities.
Safe Harbor StatementSafe Harbor Statement
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Warning: The Company relies upon litigation protection for forward-looking statements.
Cautionary Note to U.S Investors Concerning Estimates of Measured, Indicated and Inferred ResourcesThis presentation may use terms “Measured”, “Indicated” and “Inferred” Resources. U.S. investors are advised that while such terms are recognized and required by Canadian regulations, the U.S. Securities and Exchange Commission does not recognize them. “Inferred Resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of the inferred resources will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Resources may not form the basis of feasibility or other economic studies. Drill Indicated Resources are not recognized as resources in the US or Canada. U.S. investors are cautioned not to assume that all or any part of the Measured and Indicated Resources or any other category will ever be converted to reserves. U.S. Investors are also cautioned not to assume that all or any part of the Inferred Mineral Resource exists, or is economically or legally mineable.